Stock Repurchase Program Announced by NQ Mobile (NQ) Board of Directors

NQ Mobile (NYSE:NQ) announced that its board has authorized a share buyback program, which permits the company to buyback $150.00 million in shares on Monday, November 13th, EventVestor reports. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

NQ has been the subject of a number of analyst reports. BidaskClub upgraded shares of NQ Mobile from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. ValuEngine upgraded shares of NQ Mobile from a “sell” rating to a “hold” rating in a report on Friday, July 28th.

Shares of NQ Mobile (NQ) opened at $4.15 on Wednesday. NQ Mobile has a 1-year low of $3.16 and a 1-year high of $4.40.

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About NQ Mobile

NQ Mobile Inc is a global provider of mobile Internet services. The Company provides a portfolio of offerings, including mobile game publishing platforms, mobile advertising platforms, mobile entertainment applications and platforms, mobile security and productivity applications, as well as other mobile applications.

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